Hang Seng Index falls below 25,000 points at open

Hong Kong stocks opened lower on Wednesday and fell below the 25,000-point mark.

The benchmark Hang Seng Index dropped 153 points, or 0.6 percent, to 24,978.

The tech gauge slipped 0.7 percent to 4,780.

Most tech giants performed weakly at the opening bell. Alibaba (9988) and Tencent (0700) went down 0.9 percent and 1.3 percent, while Meituan (3690) declined 2 percent.

NetEase (9999) opened 3.3 percent lower, marking the worst performance among blue chips, while Lenovo (0992) led the gains across HSI constituents, up 4 percent.

Chipmakers rallied, with Semiconductor Manufacturing International Cooperation (0981) and Hua Hong Grace Semiconductor (1947) rising 1.7 percent and 0.8 percent.

Two artificial intelligence startups extended gains from a day ago. Knowadge Altas Technology (2513), or Zhipu AI, jumped 6.6 percent at the open, and MiniMax (0100) went up 1.2 percent

Reuters

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